How do you sell to Millennials? Here are some tips that may be of help.
The Millennial generation (people born from 1982 to 1993 and also known as the Gen Y) is fast becoming the most important demographic in the US. With the number of Millennials fast approaching the 80 million mark, they are also considered as one of the most important markets in the country today. However, as most business owners will tell you, reaching this demographic group can be a big challenge since they do not respond to traditional marketing techniques.
According to a study conducted by social influence marketing platform Crowdtrap in partnership with Ipsos Media and SMAC, a social enterprise company, user-generated content (UGC) accounts for 30% of Millennials’ social media consumption. The study also uncovered the following statistics.
- Millennials spend an average of 17.8 hours per day with media.
- 50% of Millennials put more trust in UGC while 35% consider these types of content to be more memorable as compared to all other forms of media.
- 53% of those surveyed admitted that user generated content influence their buying decisions.
Based on these findings, you can effectively reach and market to this demographic if you can find a way to get your brand into the conversations that matter most to them. Forget expensive traditional marketing techniques. The younger generation would not respond to these techniques anyway.
So, how do you market effectively to these young people? Here are some tips you may want to consider.
- Get to know them. Do your research to know what they want. You can use the vast wealth of information available online and supplement it by interacting with them on social media. You can also hire the services of an online survey company or do your own survey to uncover additional information that may be useful to your business.
- Engage them in a meaningful conversation. Millennials are civic-minded and would love to do their share to make the world a better place to live in. Taking this mindset into consideration, you can attract their attention by emphasizing your company’s mission on your social media page and asking for their feedback on how you can do better. You can also use their inputs in improving your products and services. For best results, use infographics, videos, contests and gamified applications to engage them.
- Uncover partnership potentials. Improve your visibility by partnering with brands that resonate well with the younger generation and are compatible your business.
- Give endorsements a try. Expert and celebrity endorsements will go a long, long way since this generation also values the inputs of high-profile individuals.
Keep in mind that if you want to do business with the Millennials, you should not spend your money on traditional marketing techniques since they would not give you the results you need.